States With The Most Loan Delinquencies

The United States national debt just reached $19 trillion. That’s quite the hole, and American households aren’t doing much better. According to the New York Federal Reserve, U.S. household debt reached $11.85 trillion in the first quarter of 2015. On top of being in debt, many Americans are more than three months delinquent in repaying their loans and lines of credit — the degree to which varies from state to state.

Using data from the Federal Reserve Bank of N.Y., Credio took a close look at the 20 U.S. states with the highest cumulative consumer loan delinquency rates. We assessed delinquencies across four categories: student loans, credit cards, auto loans and mortgage delinquencies, and ranked the list from lowest to highest cumulative loan delinquency rates.

For context, the 2014 average across the U.S. for loan delinquencies was 11.4 percent for student loans, 7.35 percent for credit cards, 3.48 percent for auto loans and 3.03 percent for mortgages.

Note: The methodology Credio used in the study doesn’t examine states with the highest amount of overall debt, but rather those with the most loans that were delinquent for more than 90 days, as of December 2014.

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